Saturday, February 4, 2012

Business Idea by Prashast and Kunal


Medical ATM
The idea
Rural areas and some urban areas have a poor medical coverage. This has given rise to superstitious practices for even common medical problems like mild fever or common cold. If easily accessible medicines are provided, the prevalence of such practices can be contained. The idea is to develop machines which are capable of reading debit cards and dispensing medicines. So for common cold, there will be a picture signifying the same. Selection of the icon would dispense a medicine, say D-Cold total. With UID coming, the accounts can be linked and specific drugs (prescribed ones) can be integrated.
Why would it work?
1.       Precedent: ATM(money) have almost rendered withdrawal from banks almost extinct. IF medical ATMs are present in vicinity, need for medical stores would be limited to providing prescribed drugs only.
2.       Need: Many rural areas do not have any medical stores. Even with medical stores, they do not have trained personnel and hence, dispense of incorrect medication is a continuous risk. Technology could remove, or at least reduce this risk.
3.       Low Cost: Setting up a medical ATM would involve lesser space and man-power, thereby, saving cost of operations.
4.       Outreach: From government’s perspective, it’s easier to set up a medical ATM than a medical store. While medical store would still be relevant for specialized operations, medical ATMs can support operations.
5.       Availability: Most medical stores close late night. Medical ATMs can be used to cater to the demand late night.
What are the risks?
1.       Security: Security would be a concern. Therefore, only relatively inexpensive medicines and specially packaged medicines should be used to disincentivize resale.
2.       Possible misuse: Expired medicines and inappropriate drugs need to be takne care of. This can be done by creating awareness about which medicines to be used for what symptoms and monitoring expiry dates for all relevant medicines.
An idea by –
1.       Kunal Khilar
2.       Prashast Srivastava

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